VanEck Bitcoin Trust ETF (NYSEARCA:HODL) Hits New 12-Month High – Still a Buy?

Shares of VanEck Bitcoin Trust ETF (NYSEARCA:HODL) hit a new 52-week high during trading on Friday . The company traded as high as $34.99 and last traded at $34.96, with a volume of 1128742 shares trading hands. The stock had previously closed at $34.23.

VanEck Bitcoin Trust ETF Stock Up 1.5%

The business’s 50 day simple moving average is $32.43 and its two-hundred day simple moving average is $29.79.

Institutional Trading of VanEck Bitcoin Trust ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HODL. Tidal Investments LLC raised its stake in shares of VanEck Bitcoin Trust ETF by 15.3% in the second quarter. Tidal Investments LLC now owns 637,078 shares of the company’s stock worth $19,412,000 after purchasing an additional 84,465 shares during the last quarter. Berger Financial Group Inc grew its holdings in VanEck Bitcoin Trust ETF by 7.0% during the second quarter. Berger Financial Group Inc now owns 621,856 shares of the company’s stock worth $18,948,000 after buying an additional 40,795 shares in the last quarter. Hunting Hill Global Capital LLC purchased a new stake in VanEck Bitcoin Trust ETF in the 2nd quarter valued at $12,160,000. Gradient Investments LLC raised its position in VanEck Bitcoin Trust ETF by 14.4% in the 2nd quarter. Gradient Investments LLC now owns 347,908 shares of the company’s stock valued at $10,601,000 after buying an additional 43,892 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in VanEck Bitcoin Trust ETF by 97.7% during the 2nd quarter. NewEdge Advisors LLC now owns 255,928 shares of the company’s stock valued at $7,798,000 after acquiring an additional 126,483 shares in the last quarter.

About VanEck Bitcoin Trust ETF

The VanEck Bitcoin Trust (HODL) is an exchange-traded fund that is based on the MarketVector Bitcoin Benchmark Rate index. The fund provides passive exposure to the price of Bitcoin through the purchase of shares, allowing investors to track the performance of Bitcoin without directly owning and managing the digital currency.